Monero (XMR) Crashes 26% From ATH, Price Rally Over?

$XMR rose to an all-time high of $798 on Jan. 14 as privacy-focused tokens gained traction in the market. This capped a steady multi-month climb that began last September.

According to analysts at 10x Research, Monero's surge was partly contributed to by increasing focus on privacy and anticipation around upcoming protocol upgrades, which have boosted demand despite persistent regulatory risks hanging over the sector.

$XMR fell for three consecutive days shortly after reaching an all-time high near $800 on Jan. 14. At the time of writing, XMR was down 5.98% in the last 24 hours to $590 but up 19% weekly.